Charges: Worker Stole From Bank To Fund Gambling Habit

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MINNEAPOLIS (WCCO) – A 20-year-old Apple Valley man who worked at a Coon Rapids bank is accused of stealing from that bank to fund a gambling habit, according to charges filed Monday in Anoka County Court.

Tyler Frank Caracofe was charged with one count of theft in connection with the incident, which took place between June and July of last year.

According to a complaint, Caracofe worked as a bank teller at the Wells Fargo bank in Coon Rapids from Nov. 7, 2011, through July 11, 2012. On July 10, 2012, Caracofe balanced his drawer at the bank and it was short by more than $1,200. He then asked his manager if he would be fired because of the shortage, and the manager said that decision would not be made for a few days.

The following day, Caracofe went to his manager and told him he was quitting before his shift was over. The manager then balanced his drawer and saw that it was short by almost $600. The total amount of money missing from the drawer for July 11-12, 2012, was $1,833.05, according to the complaint.

Caracofe gave a statement on July 12, 2012, to a Wells Fargo corporate security investigator and admitted to stealing $1,700 from his drawer to support a gambling addiction.

Two weeks later, Caracofe admitted to a Coon Rapids Police officer that he stole $1,700 from Wells Fargo. According to the complaint, he entered a precharge diversion program and was discharged on March 27 of this year for violation a condition of being in the program.

If convicted on the charges, Caracofe faces up to five years in prison and a $10,000 fine.